Asia-Pacific shares are set to climb, taking the lead from Wall Street's gains while investors also looked ahead to some economic data in the region.
The fund holds stocks that have exposure to the non fungible token market, or NFTs, which soared in value at the height of the crypto boom before seeing trading volume dry up quickly last year.
The Defiance fund, which launched in December 2021, has a total return of -54% over the past year and has less than $6 million in assets under management.Investors can expect lackluster results fromreiterated an equal weight rating"We see a miss for Dec-Q across hardware and Services. March-Q looks to be at risk due to deteriorating demand trends," Long wrote in a Monday note.
"What started out as production-driven cuts have moved to demand weakness across product categories. We are also concerned by decelerating Services growth. At a 20% premium to the S&P 500, we see the stock as fairly valued at best," Long continued.. The tech giant couldn't make enough of its high-end iPhone models when its assembly plant in China was shut down because of Covid.
Apple shares are up more than 10% this year amid a broad rally for tech stocks. The iPhone maker was down more than 26% in 2022. The stock ticked up 0.2% in Tuesday morning trading.Stocks close higher in final trading day of JanuaryThe Dow Jones Industrial Average rose 368.95 points, or 1.09%, to 34,086.04. The S&P 500 gained 1.46% to 4,076.60. The Nasdaq Composite added 1.67% to 11,584.55, in what was its best January since 2001.
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